Bitcoin price hits new highs, breaking through the $99,000 mark, driving the entire cryptocurrency market to become more active. Old altcoins are also emerging, with Ripple (XRP) being particularly eye-catching.
Compared to the bustling Meme market, old altcoins seem to be quietly rising, not as eye-catching as Meme coins, but accumulating market attention with steady gains.
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As of November 18, the weekly trading volume of altcoins has surged to over $300 billion for the first time since 2021. Among them, the trading volume of DOGE, XRP, SOL and PEPE accounts for 60% of the total trading volume.
Since November, XRP has quietly risen from around $0.5 to a high of $1.435, a 182.4% increase, reaching a new high in more than three years; ADA has risen from $0.33 to $0.9, with a monthly increase of nearly 170%; XLM has risen from $0.09 to $0.294, an increase of over 220%, these signs seem to indicate that old altcoins are gradually emerging from the doldrums and reshaping their position in the market with actual performance.
If this trend continues, the recovery of old coins and the active trading of hot tokens may bring a more widespread "altcoin season" in the future market.
Ethereum has broken through the daily resistance level today, and the breakthrough will drive the Ethereum-based altcoins. Now let me summarize the Ethereum-based altcoins for you.
ETH layer2:
ARB, OP, ZK, STRK, METIS, MANTA, CELO.MNT, MATIC, IMX, SKL, LRC, CTSI, BOBA, COMBO, MODE.
As Ethereum aims to become the global computer, the mission of Layer2 is to support the prosperity of the Ethereum ecosystem with high TPS and low gas fees. Its importance and value are self-evident. At the same time, Layer2 is the highest market cap sector in the Ethereum ecosystem. Most of the projects are also typical of the recently criticized low-circulation, high FDV institutional tokens. ARB, OP, and STRK, as three of the four "kings", all have an FDV of over $10 billion.
ETH staking/restaking:
LDO, SSV, PRL, SD, FXS, ANKR, ETHEI, REZ.
The LSD protocol is mainly the staking services related to nodes that have emerged after the Ethereum Shanghai upgrade from POW to POS. LDO is the largest service provider, with the highest TVL in the network and a circulating market cap of $2 billion. SSV is a relatively important infrastructure.
ETH old-school DeFi:
UNI, SUSHI, AAVE, COMP, CRV, MKR, LOTY DeFi should be the most familiar to everyone.
As the largest innovation sector in the last bull market, DeFi applications have become widespread in daily on-chain activities. Due to the maturity of DeFi, this cycle is mostly based on previous upgrades, with not much innovation. ETH meme: PEPE, SHIB, SPX meme are very strong sectors in this bull market, and holding a small amount is not a problem.
When Ethereum rises, altcoins continue to rise; when Bitcoin rises, altcoins have been falling. What does this indicate? It indicates that the rise of BTC is not related to the funds within the industry, it is driven by institutions, and the funds of institutions will not spill over to altcoins, while the rise of ETH is the real driver of the funds within the industry, which can lead to the outbreak of altcoins!
3 major cryptocurrencies worth watching this weekend
1.SOL
The Solana chain is one of the hottest tracks at the moment.
Its on-chain applications are growing, especially in the gaming and finance sectors. The Solana ecosystem is still expanding, and people are making a fortune every day through Solana.
SOL is expected to continue to perform strongly in the upcoming bull market.
2.XRP
Strong consortium high control, due to the positive progress in Ripple's legal dispute with the US Securities and Exchange Commission, XRP remains strong.
The long-running case is about to end, and many predict a positive outcome. The increased likelihood of Ripple prevailing in the legal dispute has boosted market confidence, and the growing prevalence of XRP in international payments has made it one of the most noteworthy altcoins.
3.SUI
The special thing about Sui is that it places a lot of emphasis on user experience. It breaks down the barriers that usually make blockchains difficult to use. With features like easy login, free transactions sponsored by others, and customizable transaction steps, Sui ensures that applications are simple and user-friendly.
In today's market, people are looking for tokens that are not only technologically advanced but also easy to use.
Compared to other tokens, Sui's focus on cutting-edge technology and user-friendliness may make it an attractive choice for those interested in the future of Web3.
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